TUESDAY 8/26/14; BBY; Durable Goods; Consumer Confidence; SPX and INDU New All-Time Record Highs; COMPQ New 14-1/2 Year High

Asia indexes are mixed. The NIKK trades -0.6% lower since the dollar/yen moves under 104 (stronger yen). China markets are lower with the airlines smacked -3% across the board. South Korea and Australia are higher. Shipbuilders are floating higher. India’s BSE remains at record highs above 26.6K intraday.

Ukraine President Poroshenko and Russian President Putin meet in Minsk, Belarus. President Poroshenko dissolves the Ukraine parliament and announces that new elections will occur in October. Russia is sending tanks and weaponry across the border to arm the pro-Russian separatists. In 


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s, with the full keyboard, are used by content creators needing fuller functionality and ease of use. The tablet screens are too small and tight to provide both a virtual keyboard and viewing screen so manufacturers are searching for ways to improve the experience and Apple’s solution is a larger screen to better handle a keyboard.

Apple is banking on this perceived new trend of using tablets more for content creation which prompts the change to a larger screen. Comically, the tablet is morphing back into a laptop again. Serious content creators continue using desk top and lap top work stations since a large fully-functional keyboard and large screen is a necessity. Time will tell if the public adopts tablets more for content creation, or not. Once a tablet begins to grow in size, why not simply stick with the laptop? The ultimate solution is holograms where a virtual keyboard can be projected onto a surface while a large screen floats in front of you in air but this technology remains several years away.

The closing bell is a nail-biter as the numbers must settle to see if an SPX close above 2K occurs, or not. The newspaper and Internet blogs want to write the SPX 2000 headline. The SPX closes at the 2000.02 palindrome above 2K for the first time ever in history albeit by two pennies. The SPX gains 2 points, +0.1%, printing a new all-time intraday high at 2005.04 and new all-time closing high at 2002.02. The INDU gains 30 points, +0.2%, printing a new all-time intraday high at 17153.80 but not a new all-time closing high. The all-time closing high remains at 17138.20 from 7/16/14. The trannies did not print new all-time highs.

The COMPQ is up 13 points, +0.3%, to 4571, printing new 14-1/2 year intraday and closing highs. The NDX continues the winning streak now at 10 days as trades continue chasing into larger-cap tech stocks which lead the overall stock market higher. The NDX is also at new 14-1/2 year highs. The RUT gains 10 points, +0.9%, to 1175. High yield bond ETF’s are back in vogue. The JNK junk bond ETF regains the June highs. HYG is a hair away from matching the June highs. The value of global equities exceeds $66 trillion.

After the close, SWFC earnings are weaker than expected creating a -5% drop in AH trading. ADI trades sideways after beating on top line sales but only in line with EPS. TIVO falls short on earnings and trades lower. Data storage company NMBL trades lower after projecting a greater EPS loss for Q3.